The Central Government is working to simplify the Income Tax Act, with an internal committee of the Central Board of Direct Taxes (CBDT) studying the existing provisions in detail. The focus is on removing unnecessary regulations, making the law more accessible and easier for taxpayers to understand.
To achieve this, feedback from the general public is also being solicited. People are invited to share their experiences with current tax laws, highlighting any challenges and suggesting potential improvements.
In the Union Budget for the fiscal year 2024-25, Finance Minister Nirmala Sitharaman announced plans to simplify the Income Tax Act and set a six-month deadline for proposed changes. As part of this initiative, the CBDT committee is actively working on making amendments to the law. Sources indicate that a major overhaul is being considered, with unnecessary provisions expected to be removed. The revised act may be approved by February next year, based on the committee’s recommendations.
You Can Submit Your Suggestions
Taxpayers and citizens are encouraged to contribute suggestions for simplifying the Income Tax Act. The Income Tax Department has opened a portal for this purpose, allowing people to submit their ideas online at https://eportal.incometax.gov.in. Suggestions can be made in four key categories:
- Simplification of language
- Reduction of litigation
- Removal of irrelevant or obsolete provisions
- Suggestions related to outdated processes
The portal has been open for suggestions since October 8, allowing citizens a convenient platform to voice their views on tax law improvements.
Taxpayers Seek Relief from Lengthy Legal Processes
The suggestions received so far have mainly focused on simplifying the language of the tax laws and reducing prolonged litigation. Many pending tax cases involve small disputed amounts but require extensive legal proceedings, creating a burden for taxpayers. There is a call for a streamlined process to resolve such disputes more efficiently. After collecting suggestions, the committee will compile a report for further action.
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